Sec. 3. And be it enacted. That the capital stock
of said corporation shall not exceed two hundred
thousand dollars, divided into two thousand
shares, of the par value of one hundred dollars
each.

Capital stock.

Sec. 4. And be it enacted That the affairs of
said corporation shall be managed by a President
and three Directors, to be chosen annually by a
majority of the stockholders at such time and in such
manner as may be designated by the stockholders
or prescribed in their by-laws, and said President
and Directors may appoint a superintendent,
agents and such other employees as in their judg-
ment may be necessary to prosecute the business
of the corporation.

Officers—how
elected.

Sec. 5. And be it enacted, That the first meet-
ing of the said corporators for the purpose of or-
ganizing the said company and for the election of
officers may be held at such time and place as a
majority of the stockholders may designate, notice
thereof being given in some newspaper published
in this State for six successive days, the last days
publication to be at least six days before the day
of meeting.

First meet-
ing.

Sec. 6. And be it enacted. That this Act shall
not be construed to confer any banking privileges
nor the right to issue any bill or note to circulate
as currency.

No banking
privileges.

Sec. 7. And be it enacted, That the General
Assembly expressly reserves the right to alter,
amend, annul or repeal this Act of incorporation.

Reservation.

Sec. 8. And be it enacted, That this Act shall
take effect on and after the day of its passage.

In force.